Mr. Eugene McCague:

-----the State could ... yes, I mean the legislation that we were looking at was legislation which had been in ... around since about May or June. I think you probably know that. It was based on the Northern Rock legislation, we were working on it over those days. It was always said to us, from the first day we arrived, that this was contingency planning. We were never given a date or we were never said, "This must be done." It was contingency planning but that was what we were working on. I don't think the legislation, of itself, to take your point, Senator, would have required a declaration that the bank was insolvent. I'm merely making the point of the practical challenges of nationalising a solvent institution.